Solana tested the $138 zone before it started a recovery wave. SOL price must clear the $150 and $155 resistance levels to start a steady increase.
- SOL price is eyeing an upside break above the $150 resistance against the US Dollar.
- The price is now trading above $145 and the 100-hourly simple moving average.
- There is a connecting bullish trend line forming with support at $146 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could clear the $152.50 resistance to start a short-term uptrend.
Solana Price Eyes Steady Increase
Solana price extended losses below the $150 level like Bitcoin and Ethereum. SOL even declined below the $142 support before the bulls appeared near the $138 level. A low was formed at $138.01 and the price recently started a decent recovery wave.
The price was able to clear the $142 and $145 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $161.89 swing high to the $138.01 low. Solana price is now trading above $145 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $146 on the hourly chart of the SOL/USD pair.